Business Context and Reporting Period
This Form 8-K filing by InPoint Commercial Real Estate Income, Inc. (InPoint) reports the determination of Net Asset Value (NAV) per share as of May 31, 2026. The report was filed on June 15, 2026. InPoint is a Maryland corporation focused on commercial real estate investments, with its public offering having officially terminated on November 1, 2025.
Key Financial Metrics
The filing details the components of total net asset value attributable to common stock as of May 31, 2026 (amounts in thousands, except per share data):
| Asset/Liability Component | Value ($) |
|---|---|
| Commercial mortgage loans | 291,505 |
| Real estate owned | 99,789 |
| Real estate securities | 10,020 |
| Cash and cash equivalents and restricted cash | 81,356 |
| Other assets | 6,012 |
| Repurchase agreements - commercial mortgage loans | (183,730) |
| Loan participations sold | (47,715) |
| Mortgage loan payable | (24,036) |
| Preferred stock | (89,430) |
| Net asset value attributable to common stock | 134,790 |
Share Data:
- Total outstanding shares: 10,120 (in thousands)
- Aggregate NAV per share: $13.3191
Material Changes and Class Breakdown
The filing provides a breakdown of NAV per share by class of common stock as of May 31, 2026:
- Class P: $13.3085 (8,563 shares outstanding)
- Class A: $13.3552 (746 shares outstanding)
- Class T: $13.4943 (290 shares outstanding)
- Class S: No shares sold; NAV is $0.
- Class D: $13.3874 (48 shares outstanding)
- Class I: $13.3570 (473 shares outstanding)
The filing does not provide comparative financial data for the prior period to calculate material changes in revenue, profit, or margins, as this report focuses solely on the point-in-time NAV determination.
Management Commentary and Risks
NAV Calculation: NAV is calculated monthly by Inland InPoint Advisor, LLC, in accordance with Board-approved guidelines. The filing notes that stockholder servicing fees are recognized as a reduction of NAV on a monthly basis as paid, though under GAAP, the full cost was accrued as an offering cost at the time of sale for Class T, S, and D shares.
Stockholder Servicing Fees: As of May 31, 2026, the Company had accrued $645 (in thousands) of stockholder servicing fees payable to the Dealer Manager related to Class T and Class D shares. No fees were accrued for Class S shares as none were sold.
Offering Status: The public offering officially terminated on November 1, 2025.
Risks/Contingencies: The filing does not explicitly list new risks or contingencies beyond the standard disclosure of NAV calculation methodologies and fee structures.
Investor Verification Checklist
- Verify the accuracy of the $13.3191 aggregate NAV per share against the Company's website (www.inland-investments.com/inpoint).
- Confirm the composition of the $291.5 million in commercial mortgage loans and the $183.7 million in repurchase agreements to assess leverage ratios.
- Review the Class S share status, noting that no shares have been sold and no servicing fees are accrued for this class.
- Check the termination date of the public offering (November 1, 2025) to confirm no new capital raises are occurring.
- Validate the accrued stockholder servicing fees of $645 (in thousands) related to Class T and D shares.